Setu Wellness Solutions, a wellness startup promoted by the Mariwala family today said it aims to offer high quality dietary supplements and nutritional solutions, eyeing Rs 100 crore revenue in three years.
"We have launched 13 products within five broad categories, vision, liver, heart, diabetes, and gut and will focus on online marketing and promotion. Looking at the growth prospects, we are expecting to clock Rs 100 crore revenues by 2021," Setu Wellness CEO Nihaal Mariwala told PTI here.
Besides India, the startup has a partner in the product space in the US. After six months, Setu hopes to expand its product portfolio. In the initial phase, it is focussed on big metros such as Tier 1 and Tier 2 cities, Mariwala said adding that the age group it is targeting is 30-45 years of age.
"Nutraceuticals industry in India is one of the most rapid growing markets in the Asia-Pacific region. The country's nutraceuticals industry is worth about USD 2.2 billion and is projected to grow at 20 per cent to USD 6.1 billion by 2020," he said.
Setu is a homegrown, digitally native online brand that aims to provide with high-quality, scientifically validated, natural solutions that can significantly enhance the quality of life. Our aim is to not only to address new age problems but also provide consumers with the knowledge that they would need to make an informed choice about their health, Mariwala said.
"We have the in-house expertise being in the neutraceutical business for some years now. The Mariwala family has long been present in the food, beverage, agriculture commodities and plant - extract businesses. They have four decades of global experience in manufacturing the most optimal natural ingredients through modern technology and nutritional science," he said.
OmniActive is also looking at more strategic acquisitions in the domestic as well as foreign markets and has drawn up capital expenditure plans of around Rs 150 crore in the next three years period for expansion and R&D programme.
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